- AUD / USD tested 0.7800 in the early US session on Friday.
- The US Dollar Index remains near 90.00 after the NFP report.
- AUD / USD remains on track to close the week in positive territory.
The pair AUD/USD rose to the 0.7800 zone early in the US session after the dollar lost its strength following disappointing US labor market data However, the pair was unable to preserve its bullish momentum and was last seen trading flat on the day slightly below 0.7770. On a weekly basis, the pair remains on track to close in positive territory for the 10th time in a row.
US Treasury Yields Rise After US Employment Report
Hours earlier, the US Bureau of Labor Statistics reported that non-farm payrolls (NFPs) in the US decreased by 140,000 in December. This reading fell short of the market expectation of +71,000 and caused the dollar to weaken against its rivals as investors saw the dismal jobs report as a factor that would allow the Fed to preserve its dovish policy.
The US Dollar Index (DXY) fell to a daily low of 89.66 after the NFP report, but registered a modest rebound later in the session. A 3% rise in the 10-year US Treasury yield supported the USD and the DXY is currently posting modest daily gains at 89.97.
No other macroeconomic data will be released for the remainder of the day and US Treasury yields are likely to continue to affect the USD market valuation ahead of the weekend.
Technical levels
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